Nissay markets fund of hedge funds

The funds arm of Japan''s giant insurer, Nippon Life, has a tough fight against global competitors.

Nissay Asset Management Company, the fund management arm of Japan's biggest insurance company, Nippon Life, has begun marketing its fund of hedge funds to Japanese pension funds and regional banks, says Tadashi Morioka, deputy general manager for international pensions products.

Even Nissay has to fight hard, however, to convince clients that its product is competitive and safe. It intends to invest in 10-20 hedge funds and is relying on Nippon Life's office in New York to help select them....

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